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$3.4 billion in grants for smart grid - 10/27/09

President Barack Obama on Tuesday announced $3.4 billion in grants to help build a "smart" electric grid meant to trim utility bills, reduce blackouts and carry power generated by wind and solar energy.

It was the largest award made in a single day from the $787 billion stimulus package approved by Congress. The White House said the award will create tens of thousands of jobs while updating the U.S. electric grid.

The grants, which range from $400,000 to $200 million, will go to 100 companies, utilities, cities, manufacturers and other partners in 49 states.

Obama made the announcement after taking a tour of an array of 90,000 solar panels that line a grassy plain of cow pastures deep in the muggy heart of Florida, apparently more panels than there are people in Arcadia.

Obama, doffing his suit coat against the heat and humidity, told a crowd the program was an important investment in the types of clean energy he would like to foster in the United States to wean the country off carbon fuels.

He said the grants would go to private companies, utilities and cities and were aimed at creating a "smarter, stronger and more secure electric grid."

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